VEON Group has pledged to invest US$250 million in Bangladesh as the anchor investor in a landmark initiative aimed at attracting US$1 billion in foreign direct investment (FDI) and accelerating the country's digital and financial transformation.
The proposal, branded "Invest in Bangladesh NOW", was presented by Augie K. Fabela II, Founder and Chairman of VEON Group, during a meeting with Prime Minister Tarique Rahman at the Prime Minister's Office in Dhaka on Monday.
The meeting was attended by Posts, Telecommunications, Information Technology and Science and Technology Minister Faqir Mahbub Anam, Prime Minister's Adviser on the same portfolio Rehan Asif Asad, VEON Board Member Michiel Soeting, Banglalink Chief Executive Officer Johan Buse, and Banglalink Chief Corporate and Regulatory Affairs Officer Taimur Rahman.
VEON is a digital operator that provides services to over 150 million connectivity customers and 205 million Active 3-Month Digital Customers. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth.
The NASDAQ-listed global digital operator, which owns Banglalink, outlined an ambitious vision to establish a comprehensive digital finance ecosystem capable of delivering accessible banking, microfinance and micro-insurance services to millions of underserved Bangladeshis.
Drawing on its international fintech expertise, VEON aims to deepen financial inclusion, empower small enterprises and entrepreneurs, and strengthen the foundations of Bangladesh's rapidly expanding digital economy.
The proposed "Invest in Bangladesh NOW" programme is envisaged as a strategic public-private partnership with the Government of Bangladesh, including the Ministry of Posts, Telecommunications and ICT, to unlock a new wave of international investment.
Under the initiative, VEON would commit US$250 million as the cornerstone investment while leveraging its global network to help mobilise a further US$750 million from international partners, taking the total targeted inflow to US$1 billion.
According to the company, the investment will focus on next-generation digital infrastructure, digital banking, mobile financial services (MFS), artificial intelligence (AI), advanced connectivity solutions and other technology-driven sectors critical to Bangladesh's future growth.
The initiative is expected to reinforce the government's ambition of transforming Bangladesh into a regional digital powerhouse and enhancing its attractiveness as a destination for high-value foreign investment.
"We are a long-term partner in Bangladesh's journey towards becoming a trillion-dollar economy," said Augie K. Fabela II.
"Through the 'Invest in Bangladesh NOW' initiative, VEON is prepared to serve as the anchor investor in an ambitious programme designed to attract US$1 billion in foreign direct investment. Alongside our own commitment, we will actively engage international partners to unlock Bangladesh's immense economic and digital potential."
